Wall Street falls at the open on profit-taking

U.S. stock indices opened lower on Friday on continuing profit-taking after hitting record highs earlier this week, triggering sell orders as traders collect their profits.
 
Profit-taking gathered pace as odds rose for another Fed rate hike in the central bank's next meeting as alluded to by Fed Chair Yellen in her Congress testimony, hurting stocks in turn.
 
On the other hand, U.S. president Donald Trump announced he's working on a new law to tighten immigration to the U.S., raising concerns about the impact of Trump's policies on trade activity in America.
 
The dollar recovered today, heaping pressure on shares of American exporters and dragging Wall Street down.
 
Standard and Poor's 500 fell 0.27%, or 6.33 points to 2,340.89, while Dow Jones lost 0.28%, or 57.40 points to 20,562.37.
 
Tech-heavy NASDAQ shed 0.08%, or 4.53 points to 5,810.37.